{"id":1803,"date":"2021-04-04T13:14:12","date_gmt":"2021-04-04T13:14:12","guid":{"rendered":"http:\/\/www.assetmultiplier.co.in\/blog\/?p=1803"},"modified":"2021-04-04T13:14:45","modified_gmt":"2021-04-04T13:14:45","slug":"week-in-a-nutshell","status":"publish","type":"post","link":"https:\/\/www.assetmultiplier.co.in\/blog\/2021\/04\/04\/week-in-a-nutshell\/","title":{"rendered":"The Week in a nutshell (30th March-1st April)"},"content":{"rendered":"<p style=\"text-align: center;\"><strong>Technical Talks<\/strong><\/p>\n<p>NIFTY opened the week on 30 th March at 14,628 and closed on 1 st April at 14,867, a weekly<br \/>\ngain of 1.6%. On the upside, 15,536 could be a resistance to watch for. On the downside,<br \/>\n100 DMA of 14,139 might act as a support. RSI on the uptrend at 52 and reducing negativity<br \/>\nin MACD indicates that the market might see some uptrend in the coming days.<\/p>\n<p style=\"text-align: center;\"><strong>Weekly highlights<\/strong><\/p>\n<p style=\"text-align: left;\">\u25cf The government has approved a Rs 109 bn production-linked incentive scheme for the food<br \/>\nprocessing industry (PTI). The scheme will attract investments from global and domestic<br \/>\ncompanies in the food processing sector.<br \/>\n\u25cf GST collections rose 27% to hit a record high of nearly Rs 1,240 bn in March, helping to<br \/>\nnarrow the deficit for the full financial year to ~7%. Revenue from imported goods jumped<br \/>\n70%, while those from domestic transactions, including services imports, were 17% higher<br \/>\nthan the corresponding periods of 2020. Economic activities are picking up which will be<br \/>\npositive for economy linked stocks.<br \/>\n\u25cf A sharp recovery in the US dollar, hints of a strong global economic outlook, and a surge in<br \/>\nUS treasury yields continue to hit the safe investment demand and thus the price of gold.<br \/>\nThe Gold futures have fallen from a high of US $ 1962 to the US $ 1730 on April 1. A<br \/>\npossible physical demand recovery due to the upcoming marriage season in India and China<br \/>\ncan attract fresh buyers.<br \/>\n\u25cf OPEC+ agreed on Thursday to gradually ease its oil output cuts from May. The new U.S.<br \/>\nadministration called on Saudi Arabia to keep energy affordable, mirroring Donald Trump&amp;#39;s<br \/>\npractice of calling OPEC&amp;#39;s leader over oil policy.<br \/>\n\u25cf Auto volumes for the month of March-21 were reported. Companies have been talking of<br \/>\nthe supply chain being impacted due to the global chip shortage issue. Despite the supply<br \/>\nchain issues, most companies reported good performance. Maruti and Tata Motors reported<br \/>\n2% and 15% MoM growth. NIFTY AUTO witnessed a gain of 1.6% on Thursday.<br \/>\n\u25cf Foreign Institutional Investors (FIIs) were net buyers in Indian equity of Rs 26,044 mn,<br \/>\nagainst net selling of Rs 67,013 mn in the previous week. Domestic Institutional Investors<br \/>\n(DIIs) continued to be net buyers of Rs 39,660 mn, lower than last week\u2019s buying of Rs<br \/>\n50,181 mn.<\/p>\n<p style=\"text-align: left;\"><strong>Things to watch out<\/strong><br \/>\n\u25cf RBI Monetary Policy Committee to announce the new policy on 7 April. No interest rate<br \/>\nchanges are expected in this meeting too. After a cumulative reduction of 115 bps in the<br \/>\npolicy repo rate to 4.00 per cent in two of the out-of-cycle meetings held in March 2020 and<br \/>\nMay 2020, the Monetary Policy Committee (MPC) kept the repo rate unchanged in the<br \/>\nsubsequent policy reviews. Since the last policy review, the CPI inflation has risen from a low<br \/>\nof 4.1 per cent in January 2021, to a sharper-than-expected 5.0 per cent in February 2021.<br \/>\nConsensus expects no changes in interest rates.<br \/>\n\u25cf Due to the everyday rise in covid cases, the Government is planning a weekend lockdown in<br \/>\nMaharashtra and planning to close restaurants, Malls, parks etc. How the market reacts to<br \/>\nthese rising cases in the country will be the key thing to watch out for.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Technical Talks NIFTY opened the week on 30 th March at 14,628 and closed on 1 st April at 14,867, a weekly gain of 1.6%. On the upside, 15,536 could be a resistance to watch for. On the downside, 100 DMA of 14,139 might act as a support. RSI on the uptrend at 52 and [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[684,680],"tags":[],"_links":{"self":[{"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts\/1803"}],"collection":[{"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/comments?post=1803"}],"version-history":[{"count":2,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts\/1803\/revisions"}],"predecessor-version":[{"id":1805,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts\/1803\/revisions\/1805"}],"wp:attachment":[{"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/media?parent=1803"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/categories?post=1803"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/tags?post=1803"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}